Energy firm to pay $10.35-million bribery fine

CALGARY (CP)— Griffiths Energy has agreed to pay a $10.35 million fine after pleading guilty to a bribery charge for payments made to officials in Chad.The amount is “not trifling” but the company’s current management agrees the offence is serious, Griffiths lawyer Kristine Robidoux said Tuesday.

The Calgary-based company disclosed last week that it had been charged under a Canadian law called the Corruption of Foreign Public Officials Act.

The company admits it paid $2 million to officials in Chad to get an advantage in two exploration blocks in the oil-rich African country.

The contracts were signed by a previous management team that left Griffiths in July 2011.

The current management team discovered the suspect contracts as they were doing preparations for a public offering of stock.

Results of the company’s internal investigation were handed over to Canadian and U.S authorities.

The new management at Griffiths “unequivocally condemns” its predecessors’ conduct, Robidoux said